The collapse of seven local banks in Ghana has brought to the fore the challenges that banks, savings and loans and investment entities are facing recently in Ghana. This has resulted in depositors becoming apprehensive and resorting to panic withdrawal.
Supreme Trust Capital Limited, a private financial institution, is also looming in danger with scores of customers uncertain when they will be paid their monies. A number of depositors have been given one excuse after the other in their quest to redraw their money.
According to the Managing Director of Supreme Trust, Solace Soglo, they do not owe investors but are just managing their funds. She reiterated that they are facing liquidity problems.
In an interview with host Ibrahim Kwarteng on Unique FM’s News and Current Affairs Programme “Behind the News”, a customer who started depositing since December 2017 said he has been told different stories on several occasions when he wanted to withdraw his money which was due in June 2018. He complained that he has since not been able to withdraw his money which amounts to GH¢24, 064 to date.
Another customer also shared his story said his investment matured on the 25th of June, 2018, but his money has not been given to him.
The Executive Director of the Ghana Association of Savings and Loans Companies (GHASALC), Tweneboah Koduah Boakye, said his general observation is that various financial institutions are going through reforms which is causing a lot of changes in the financial sector.
He however encouraged all players in the financial sector to comply with the directives of the regulators as they work to resolve all problems.
By: Nhyira Kwabi
